Welcome to our dedicated page for Rayonier Advanced Matls news (Ticker: RYAM), a resource for investors and traders seeking the latest updates and insights on Rayonier Advanced Matls stock.
Rayonier Advanced Materials Inc. reports on a cellulose and derivatives business that produces specialty cellulose, viscose pulp, fluff pulp, high-yield pulp, paperboard, biofuels, bioelectricity and lignin from wood fiber. Company news commonly covers quarterly operating results, pricing and volume trends, debt and leverage measures, segment reporting changes, and demand conditions in end markets such as filters, food, pharmaceuticals, high-performance plastics, propellants and industrial applications.
Updates also address manufacturing activity across operations in the United States, Canada and France, including facility events, capital-allocation decisions, strategic-review disclosures, leadership transitions and investor presentations.
Rayonier Advanced Materials (NYSE: RYAM) announced a price increase of 15-30% on all Cellulose Specialties products, effective immediately. This decision aims to counteract rising costs across their supply chain, particularly in fiber, chemicals, energy, and freight. CEO Paul Boynton highlighted that significant inflation is impacting operations and is expected to persist into 2022. The company is also pursuing ongoing cost-efficiency initiatives at its facilities to enhance performance and offset these challenges.
Rayonier Advanced Materials Inc. (NYSE: RYAM) announced plans to redeem $25 million of its 7.625% Senior Secured Notes due 2026 at a price of 103.000%, plus interest. The company also repurchased approximately $126.5 million of its 5.50% Senior Notes due 2024, retiring them for about $123.5 million. These transactions contribute to over $150 million in deleveraging, highlighting the company’s focus on debt reduction.
Rayonier Advanced Materials (NYSE: RYAM) has finalized the sale of its lumber and newsprint assets to GreenFirst Forest Products for approximately US$235 million, with 85% paid in cash and 15% in shares, subject to a six-month holding period. The company will use the proceeds to reduce debt and invest in its High Purity Cellulose segment. RYAM retains rights related to $110 million in softwood lumber duties. Post-transaction, RYAM owns 28,684,433 GreenFirst shares, constituting 16.2% of the company.
Rayonier Advanced Materials (RYAM) achieved a net income of $122 million ($1.89/share) for Q2 2021, a turnaround from a $13 million loss in the prior year. Higher sales prices in High Purity Cellulose and a strong performance in discontinued operations contributed to this improvement. The company expects significant free cash flow due to strong lumber prices and the pending sale of its lumber and newsprint assets for $214 million. Overall, second quarter results show improved cash flows and operational performance, setting the stage for strategic capital allocation.
Rayonier Advanced Materials (NYSE:RYAM) will release its second quarter 2021 earnings on August 3, 2021, after market close. A conference call is scheduled for August 4, 2021, at 10:00 a.m. ET to discuss earnings. Investors can join the call via phone or online, with a replay available until August 18, 2021.
Rayonier specializes in cellulose-based technologies and generated approximately $1.7 billion in revenue, employing over 4,000 people across operations in the U.S., Canada, and France.
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Rayonier Advanced Materials (NYSE:RYAM) reported a loss from continuing operations for Q1 2021 of $27 million, or $0.43 per share, compared to a $25 million loss in Q1 2020. The decline was attributed to higher tax expenses but offset by increased lumber prices and stronger sales in High Purity Cellulose. The company announced the sale of its lumber and newsprint assets to GreenFirst for $214 million, which will help reduce debt and reinvest in core operations. Q1 net sales totaled $465 million, driven by strong performance in High Purity Cellulose and Forest Products segments.
Rayonier Advanced Materials Inc. (NYSE: RYAM) announced a strategic investment in Anomera Inc., the leading producer of Cellulose Nanocrystals (CNC) with a potential annual market exceeding $8 billion. The investment supports the construction of Anomera's Specialty Manufacturing Facility in Quebec, enhancing production capabilities of its eco-friendly products. RYAM increases its stake, becoming Anomera's largest shareholder, with a total investment of $8 million to date. Anomera's products, including DextraCel™ and ChromaPur™, cater to diverse industries, promoting sustainable alternatives to conventional materials.
Rayonier Advanced Materials (RYAM) will announce its Q1 2021 earnings on May 4, 2021, post-market. A subsequent conference call is scheduled for May 5, 2021, at 10:00 a.m. ET, to discuss these results. The call will be accessible via www.rayonieram.com. With over 4,000 employees, the company reported approximately $1.8 billion in revenues, specializing in cellulose-based technologies across various sectors.
Rayonier Advanced Materials (RYAM) has entered a binding asset purchase agreement with GreenFirst Forest Products to sell its lumber and newsprint facilities in Ontario and Québec for approximately US$214 million. This agreement includes 85% cash and 15% shares of GreenFirst. RYAM will also retain all cash generated by the assets and an estimated $110 million in softwood lumber duties. The deal will be finalized in the second half of 2021, pending regulatory approvals. This strategic divestment allows RYAM to focus on its core high purity cellulose business and reduce debt.